Being registered only as a Registered Investment Advisor means that the firm's financial professionals are always required to follow the Fiduciary Standard. This is not the case when they are dually registered as a Broker-Dealer and an Investment Advisor. A dually registered financial professional may act in different capacities on different accounts (or at different times) for the same client. They may be a Registered Investment Advisor Representative on one and a Broker Dealer Agent on another.
| Firm | Fiduciaries on all accounts (Registered Only as Investment Advisors) |
|---|---|
| One Day In July | |
| Edward Jones | |
| Morgan Stanley | |
| Fisher Investments | |
| Vanguard | |
| Citigroup | Raymond James | Merrill |
"Edward Jones" is a registered trademark of Edward Jones Investments, "Fisher Investments" is a registered trademark of Fisher Asset Management LLC, "Morgan Stanley" is a registered trademark of Morgan Stanley, "Vanguard" is a registered trademark of The Vanguard Group Inc, "Merrill ," a wholly owned subsidiary of and a registered trademark of Bank of America Corporation, and "Citigroup" is a registered trademark of Citigroup Inc. "Raymond James®" is a registered trademark of Raymond James Financial, Inc.
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